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Lottery
Jan 10, 2016 08:41:54 #
When CA started the game back about 25-30 years ago, 20 people at work each paid 5. So we bought 100 and "won" 6 in return. Next week we bought 50 and got "0". That was the last time.
One guy thought he won by getting 3 #'s and bought a car.
One guy won 150K per year and quit his job, bought house for parents and having to borrow money after 3 months.
He didn't get a financial adviser or tax attorney.
Memories of few past stories, and our attempt to win some.
One guy thought he won by getting 3 #'s and bought a car.
One guy won 150K per year and quit his job, bought house for parents and having to borrow money after 3 months.
He didn't get a financial adviser or tax attorney.
Memories of few past stories, and our attempt to win some.
Jan 10, 2016 08:46:47 #
FuManChu wrote:
When CA started the game back about 25-30 years ag... (show quote)
I'm amazed that with the millions who bought tickets, no one won anything.
Jan 10, 2016 09:02:02 #
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Jan 11, 2016 08:32:21 #
Someone eventually will win. You cannot win if you don't play. As long as you only use "spare $$" and not money budgeted for necessities, why not risk $5 or $10? The "if I won the lottery" dreams are fun.
I have everything that I need but I still play. My favourite charities, family and friends will get what the government does't take.
Good luck to all who play and those who don't.
~Lee
I have everything that I need but I still play. My favourite charities, family and friends will get what the government does't take.
Good luck to all who play and those who don't.
~Lee
Jan 11, 2016 09:18:01 #
melismus
Loc: Chesapeake Bay Country
If I were a gambling man, I would seek better odds than what the lotteries offer.
Jan 11, 2016 09:53:13 #
melismus wrote:
If I were a gambling man, I would seek better odds than what the lotteries offer.
:thumbup:
Jan 11, 2016 09:55:34 #
I remember when the lottery started in New York. They said the money would go to education. I don't know if anyone actually believed that, but school taxes just kept going up. Every year our local school has to wait till they see how much state aid they will get before finalizing their budget. The politicians always find something more important than education to finance.
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Jan 11, 2016 10:30:26 #
melismus
Loc: Chesapeake Bay Country
Jerry,
Remember that when we were kids gambling was illegal 'most everywhere, and government was in the business of enforcing the law. Now, 'most everywhere, government is chief croupier.
Go figure.
Remember that when we were kids gambling was illegal 'most everywhere, and government was in the business of enforcing the law. Now, 'most everywhere, government is chief croupier.
Go figure.
jerryc41 wrote:
I remember when the lottery started in New York. They said the money would go to education. I don't know if anyone actually believed that, but school taxes just kept going up. Every year our local school has to wait till they see how much state aid they will get before finalizing their budget. The politicians always find something more important than education to finance.
Jan 11, 2016 18:24:18 #
There WILL be a winner on Tuesday because there will be enough tickets sold to do every possible number combination. Soooo, there will be probably several winners (hopefully) because one person couldn't possibly handle $1.5 billion and stay sane, sober, married or possibly alive. Would be a target for kidnappers and poor mouth relatives and "friends" that will come out of the woodwork forever.....
Jan 11, 2016 19:40:15 #
Jan 11, 2016 23:47:19 #
texasdan78070
Loc: Texas Hill Country
Whomever wins: just know that not one of your billion or so will have been contributed by me!
Dan
Dan
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Jan 12, 2016 10:57:55 #
FuManChu wrote:
When CA started the game back about 25-30 years ag... (show quote)
THE SYSTEM WAS DOWN THIS AM.
Jan 12, 2016 13:53:12 #
The first dollar I ever spent, netted me $5000. The lottery was only about 2 years old in Ohio then.
I haven't spend a dime on it since. I figured I used up all my luck on the first dollar. It helps that I'm a cheapskate, and don't want to give any of my money back.
Every weekly drawing since then, I figure I'm "winning" another dollar by not spending one.
52 weeks a year x roughly 30 years I will have saved almost enough to get a D-500 when they are finally available as refurbs.
I haven't spend a dime on it since. I figured I used up all my luck on the first dollar. It helps that I'm a cheapskate, and don't want to give any of my money back.
Every weekly drawing since then, I figure I'm "winning" another dollar by not spending one.
52 weeks a year x roughly 30 years I will have saved almost enough to get a D-500 when they are finally available as refurbs.
Jan 12, 2016 17:06:28 #
jerryc41 wrote:
I'm amazed that with the millions who bought tickets, no one won anything.
Am I reading this article wrong? It looks to me like a lot of money was paid out.
http://www.powerball.com/pb_home-old.asp
Jan 14, 2016 05:57:12 #
Why is it called gambling? Las Vegas was a desert with a few crooners and mobsters 60 years ago. Now, it has huge hotels, (expensive), uses lotsa electricity to run all those lights and air conditioning (costly), and must pipe a lot of water into a desert to make it livable (not cheap).
Las Vegas isn't gambling and neither is the government with the lottery.
Keep in mind that you are not allowed to deduct your gambling losses unless you win, and only as much as you win. The money that is not paid out in winnings (and expenses) goes to what your tax money used to pay for. And don't forget that you have to pay tax on the winnings. I see that as paying tax 3 (three) times over on the same money. No. That is not gambling for the government. It is simply putting their hands in our pockets and taking.
Las Vegas isn't gambling and neither is the government with the lottery.
Keep in mind that you are not allowed to deduct your gambling losses unless you win, and only as much as you win. The money that is not paid out in winnings (and expenses) goes to what your tax money used to pay for. And don't forget that you have to pay tax on the winnings. I see that as paying tax 3 (three) times over on the same money. No. That is not gambling for the government. It is simply putting their hands in our pockets and taking.
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